Intercos fund shareholders L Catterton, OTPP sell 6% stake at 7% discount (updated)

Rothschild & Co SCA

29/03/2023 09:41

(Adds ABB discount, IPO price, shares)
       MILAN, March 29 (Reuters) - Private equity fund L
Catterton and the Ontario Teachers' Pension Plan (OTPP) said
they had completed the sale of an around 5.7% stake in Italian
cosmetics manufacturer Intercos  ICOS.MI  at a price of 13.25
euros ($14.36) per share.
    The price represents a 6.8% discount to Tuesday's closing
value of 14.15 euros per share.
        Shares in Intercos fell as much as 6% to 13.30 euros on
Wednesday.
  
    The sale took place through an accelerated bookbuilding
procedure managed by Jefferies and UBS, while Rothschild & Co 
acted as financial adviser to the sellers.
    Gross proceeds from the placement totalled about 73 million
euros. The deal will settle on March 31.
   L Catterton and OTPP will come to hold, respectively, 13.3%
and 10% of Intercos, as a result of the deal. 
        Intercos started trading in Milan in November 2021,
after listing its shares at a price of 12.50 euros each.
  
        Intercos is controlled by founder Dario Gianandrea
Ferrari through a 40.5% stake. ($1 = 0.9228 euros)

 (Reporting by Alessandro Parodi and Federico Maccioni, editing
by Cristina Carlevaro and Valentina Za)
 ((Federico.maccioni@thomsonreuters.com; +39 3420768883;))